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Convergence of Greek Economy with the EU and Some Comparisons with Polish Experience

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  • Magdalena Osinska
  • Karolina Kluth

Abstract

The paper aims to analyze economic situation in Greece and in Poland with comparison to the European Union. The basis for the analysis has been made by the theory of economic convergence. The newest statistical data concerning GDP per inhabitant were used in the study. In the analysed countries only for time series approach both unconditional and conditional convergence between the countries was confirmed, i.e. GDP per inhabitant in Greece, Poland and both the EU sections were co integrated. The results of the test for integration and co integration based on the panel data did not support the unconditional convergence.

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File URL: http://www.ersj.eu/repec/ers/papers/10_4_p9.pdf
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Bibliographic Info

Article provided by European Research Studies Journal in its journal European Research Studies Journal.

Volume (Year): XIII (2010)
Issue (Month): 4 ()
Pages: 139-156

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Handle: RePEc:ers:journl:v:xiii:y:2010:i:4:p:139-156

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Web page: http://www.ersj.eu/

Related research

Keywords: convergence; economic growth; co integration; economic crisis;

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  1. Vasco M.Carvalho & Andrew C.Harvey, 2002. "Growth, Cycles and Convergence in US Regional Time Series," Cambridge Working Papers in Economics 0221, Faculty of Economics, University of Cambridge.
  2. Pesaran, M. Hashem & Shin, Yongcheol, 1996. "Cointegration and speed of convergence to equilibrium," Journal of Econometrics, Elsevier, vol. 71(1-2), pages 117-143.
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  4. Yucan Liu & C. Richard Shumway & Robert Rosenman & Virgil Eldon Ball, 2011. "Productivity growth and convergence in US agriculture: new cointegration panel data results," Applied Economics, Taylor & Francis Journals, vol. 43(1), pages 91-102.
  5. Evans, Paul & Karras, Georgios, 1996. "Do Economies Converge? Evidence from a Panel of U.S. States," The Review of Economics and Statistics, MIT Press, vol. 78(3), pages 384-88, August.
  6. Kaddour Hadri, 1999. "Testing For Stationarity In Heterogeneous Panel Data," Research Papers 1999_04, University of Liverpool Management School.
  7. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July.
  8. Michal Rubaszek, 2009. "Economic convergence and the fundamental equilibrium exchange rate in Poland," Bank i Kredyt, National Bank of Poland, Economic Institute, vol. 40(1), pages 7-22.
  9. Ranjpour Reza & Karimi Takanlou Zahra, 2008. "Evaluation of the Income Convergence Hypothesis in Ten New Members of the European Union. A Panel Unit Root Approach," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 55(2), pages 157-166, June.
  10. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
  11. Johansen, Soren, 1991. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models," Econometrica, Econometric Society, vol. 59(6), pages 1551-80, November.
  12. Dreger, Christian & Reimers, Hans-Eggert, 2005. "Health Care Expenditures in OECD Countries: A Panel Unit Root and Cointegration Analysis," IZA Discussion Papers 1469, Institute for the Study of Labor (IZA).
  13. Urmas Varblane & Priit Vahter, 2005. "An Analysis Of The Economic Convergence Process In The Transition Countries," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 37, Faculty of Economics and Business Administration, University of Tartu (Estonia).
  14. Baumol, William J, 1986. "Productivity Growth, Convergence, and Welfare: What the Long-run Data Show," American Economic Review, American Economic Association, vol. 76(5), pages 1072-85, December.
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